PNB Hikes Fixed Deposit Interest Rates, Higher Rates For Senior Citizens

Punjab National Bank (PNB) has decided to make its fixed deposits more attractive ahead of Diwali for citizens by offering higher interest rates. The government bank has hiked its fixed deposit interest rate for deposits less than Rs 2 crore. According to the official website of PNB, fixed deposit interest rate has been hiked by up to 50 basis points (bps) for specific tenors.

The latest interest rates have already become effective starting from October 19, 2022, as per PNB's official website.

Check latest interest rates on single domestic term deposits (TD) callable below for General citizens:

• PNB has increased fixed deposit interest rate by 50 bps on tenor ranging from 7 days to 45 days from the existing 3% to 3.5% p.a.
• 46-90 days: PNB will now offer 3.75% on deposits under this tenor from 3.25% p.a.
• 91-179 days: The bank has hiked interest rates from 4% to 4.50% p.a.
• 180-270 days: The new interest rate is 5% p.a.
• 271 days to
• 1 year: Interest rate available under this tenor is 5.70% p.a.
• 1 year to 404 days: Interest rate is 5.70% now p.a.
• 406 days -599 days: The new interest rate is 5.70% p.a.
• 600 days: This tenor is offering highest interest rate of 6.50% p.a.
• 5 year to 10 year: The interest rate has been hiked to 5.85% from 5.65% p.a.

FD Interest Rate For Super Senior Citizens: The bank is offering higher interest rates for super senior citizens. Super Senior citizens can avail the highest interest rate of 7.30% p.a. for deposits maturing in 600 days. Earlier, this tenor was offering 7% p.a. interest rate. For super senior citizens the minimum interest rate offered is 4.30% for deposits maturing in 7 days to 45 days. For deposits maturing in 5 years-10 years, the interest rate is 6.65.

For senior citizens the highest interest rate is available in deposits maturing in 600 days at 7% p.a.